Chainlink (LINK) is currently trading at $8.70, reflecting a 24-hour change of -4.65%. The asset reached a high of $9.27 and a low of $8.66 in the last 24 hours, indicating a daily range of 0.61%, which shows limited volatility during this period.

The trading volume stands at approximately $312 million, corresponding to a volume-to-market cap ratio of 5.07%, suggesting moderate trading activity relative to its overall market capitalization. Currently, the hourly moving averages indicate downward pressure, with the 8 SMA at $8.81 (-1.28%) and the 21 SMA at $9.01 (-3.45%), signaling bearish sentiment in the short-term.

The 1-hour RSI is at an extreme low of 13, suggesting that LINK is heavily oversold in the very short term. However, the 7-day RSI at 49 indicates that LINK is nearing neutral territory, which might imply a potential for stabilization or a rebound if buying interest increases.

In the longer-term context, the 30-day price change of -26.56% reflects significant bearish momentum, indicating that LINK has lost substantial value over the past month. Additionally, with the all-time high at $52.70, LINK is currently trading 83.5% below that peak, which raises concerns about long-term investor sentiment.

Given the current price action, moving averages, and RSI indicators, the outlook for Chainlink is bearish in the short term. Therefore, the recommendation is to Hold LINK, as it may not be the best entry point for new investments until a stronger bullish signal appears. Holding allows investors to reassess after potential stabilization or corrective movements in the price.